MarkNtel Advisors recently published a detailed industry analysis of the India E-Rickshaw Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
India E-Rickshaw Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The India E-Rickshaw Market is projected to grow at a CAGR of around 15% during the forecast period, i.e., 2024-30.
What are the major Driver the India E-Rickshaw industry?
Reasonable Prices Paired with the Constant Endorsement of Electric Vehicles by the Government – The beginning cost of an electric-rickshaw is INR0.6-1.1 lakhs, whereas the cost of ICE-based autorickshaw is INR1.5-3 lakhs, which is considered the major socio-economic benefit. Besides, the running and maintenance cost for such electric three-vehicle is lower per kilometer compared to ICE-based counterparts, thereby providing more employment opportunities to cycle-rickshaw drivers.
Further, the numerous state electric vehicle regulatory frameworks and policies like National Urban Livelihood Mission 2013, Pradhan Mantri Mudra Yojna, Smart City Mission 2015, and Faster Adaptation of Manufacturing of Electric Vehicles (FAME I and II) provide continual measures in the forms of loans and direct subsidies and environmental policies. These initiatives are directly influencing the growth of the industry by pushing the adoption of such vehicles further in the coming years.
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What segments define the India E-Rickshaw Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
- By Type
- Passenger Carrier- Market Size & Forecast 2019-2030, USD Million & Thousand
- Load Carrier- Market Size & Forecast 2019-2030, USD Million & Thousand
According to report, The passenger carrier segment is predicted to generate higher revenue during the anticipated time frame.
- By Battery
- Lead-Acid- Market Size & Forecast 2019-2030, USD Million & Thousand
- Lithium-Ion- Market Size & Forecast 2019-2030, USD Million & Thousand
According to report, Between the two, Lithium-ion batteries are gradually gaining market share because of their superior performance.
- By Battery Capacity
- Less than 100 Ah- Market Size & Forecast 2019-2030, USD Million & Thousand
- Greater than 100 Ah- Market Size & Forecast 2019-2030, USD Million & Thousand
- By Transmission Mode
- Geared- Market Size & Forecast 2019-2030, USD Million & Thousand
- Gearless- Market Size & Forecast 2019-2030, USD Million & Thousand
Explore the Complete India E-Rickshaw Market Analysis Report –
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Geographical Analysis: India E-Rickshaw Market
- By Region
- North
- South
- West
- East
- North East
India E-Rickshaw Market Share & Competitive Landscape:
The India E-Rickshaw Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the India E-Rickshaw Market are:
- Terra Motors Corporation
- Kinetic Green Energy & Power Solutions Ltd.
- Lohia Auto Industries
- ATUL Auto Ltd.
- Mahindra Electric Mobility
- Gayam Motors
- Jezza Motors
- Saera Electric Auto Pvt. Ltd.
- Euler Motors
India E-Rickshaw Industry Recent Development:
- In December 2021, Mahindra Electricintroduced a new passenger carrier three-wheeler, the Treo EV in the Indian market. It is capable of generating 42Nm of peak torque powering the Mahindra Treo EV of Kw.
- InSeptember 2020,Hero Electric and EV MotorsIndia allied to provide advanced battery solutions and charging configurations for electric vehicles in India. This tie-up aimed at enhancing two-wheeler and three-wheeler electric vehicles.
Questions Addressed in this Study
1.What factors are driving the India E-Rickshaw Market growth?
2.How is the India E-Rickshaw Market expected to grow over the next five years?
3.What are the key insights into the current trends in the India E-Rickshaw Market ?
4.What is the current size of the India E-Rickshaw Market, and how is it projected to change in the future?
6.What is the future outlook for the India E-Rickshaw Market in terms of technological advancements and market expansion?
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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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